Three years after the outbreak of Covid-19, the least developed countries (LDCs) already grappling with economic and environmental shocks, have found themselves stranded amid a rising tide of crisis, uncertainty, climate chaos and deep global injustice, Antonio Guterres, the United Nations (UN) Secretary General Antonio Guterres has said.

He was speaking at the UN’s fifth conference on the least developed countries currently underway in Doha, Qatar.

Prime Minister Edouard Ngirente is also present at the meeting where he joined several leaders for this year’s conference that, among others, aims to accelerate sustainable development where international assistance is most needed to unlock the full potential of the world’s most vulnerable countries.

"Systems are stretched or non-existent from health and education to social protection, infrastructure and job creation. And it is only getting worse,” he added.

According to the UN chief, the global financial system, created by wealthy countries to serve their own interests, is extremely unfair to LDCs, who must pay interest rates that can be eight times higher than those in developed countries.

"Today, 25 developing economies are spending over 20 percent of government revenues solely on servicing debt,” he told a fully packed house in Doha.

In the face of such deep challenges, the UN chief pointed out that the LDCs "need a revolution of support” mainly across three key areas.

First, he said the world’s most vulnerable countries, which have been handed "the rawest of deals”, urgently require support to achieve the Sustainable Development Goals (SDGs).

This, he said, includes providing at least $500 billion a year to developing countries, as well as 0.15 to 0.20 per cent of GNI for official development Assistance (ODA) from developed countries. In addition international efforts he said international efforts need to be made to prevent tax evasion and illicit financial flows.

"No more excuses,” the Secretary-General stressed. "I call upon development partners to support the implementation of these deliverables and achievements of the DPoA targets,” he said, referring to the landmark Doha Program of Action, which is the blueprint for renewed commitment and engagement between the LDCs and their development partners, including the private sector, civil society, and governments at all levels.

According to Guterrres, the LDCs are particularly vulnerable to the effects of climate change despite contributing only a small amount of greenhouse gasses.

To provide the necessary support, Mr. Guterres urged developed countries to fulfill their $100 billion promise to developing countries to simplify access to climate finance, operationalize the loss and damage fund, as well as double adaptation finance.

"The era of broken promises must end now,” the UN chief asserted. "Let’s put the needs of least developed countries where they belong.”

Since the onset of COVID-19, the 46 LDCs have suffered from inadequate resources to fight the pandemic and spiraling debt that has set back their development progress. Despite the vast efforts to address these circumstances, one in three people in LDCs is living in extreme poverty.